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the money as taxable u.s. income. >> a lot of the money is not. it's a lot of times the company chooses u.s. investments and things like that. >> those are just some of the ways companies defer payments indefinitely. five company as kted for more than two thirds of the $225 billion in accumulated foreign earnings last year. top u.s. tax rate is 35% but a review of the last three years of financial records found that some silicon valley companies are paying lower global tax rates. apple reported $40.4 million -- billion in holdings overseas. ebay, $10 billion overseas, google, $24.8 billion reported. yahoo had $3.2 billion overseas. and cisco which reported $41.3 billion overseas had anmk;va effective tax rate of 14%. those that did said they're following the law. economists estimate the federal government loses $90 billion a year enough to fund california public schools and universities more than two years. or cover 206 days of military operations in afghanistan and iraq. this isn't the first time multi national companies have been the target of criticism for sheltering money oversea autos
results on the u.s. economy. so she clearly, even though congress is in recess until monday, putting a great deal on congressional republicans for when they return to washington to get a deal done as soon as possible. >> carolyn: sequestration the major topic, is that what you plan to speak with the president tomorrow? >> reporter: no doubt, i will ask him about sequestration and it affects all of us if these spending cutting into effect. i hope to talk to him about a number of other issues, the nation's infrastructure, roads and bridges. he talked about that some in the state of the union. i want to ask him about his immigration policy and some of the plans he has to deal with allowing illegal immigrants a path to citizenship. a variety of topics, education if we have time and a chance to talk with several cabinet secretaries about some of the issues that are affecting the nation and california. so there is a lot to talk about tomorrow. i'll have reports tomorrow and you can follow me on twitter at dan ashley abc7. a big day tomorrow. i look forward to having a chance to speak to th
Search Results 0 to 1 of about 2